3 Questions
True or false: Risk management can help to improve operational efficiency.
True
True or false: Risk management practices have no effect on problem avoidance.
False
True or false: Risk management is a systematic process that is used to manage risks.
True
Study Notes
- Risk management is the systematic process of assessing and managing the risks associated with a project or operation.
- Risk management helps to avoid problems and increase efficiency during operation.
- Risk management can identify the risk that could affect the operating efficiency.
- Risk management can prevent problems from happening in the first place.
- There is a statistically significant relationship between risk management practices and problem avoidance.
- Risk management practices have an impact on operational efficiency.
Test your knowledge of risk management in operations with this quiz. Learn about how risk management helps to avoid problems and increase operational efficiency.
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